TN Gas Prices Up Only Two Cents
Tennessee falls to the 11th least expensive market in the nation
NASHVILLE, Tenn., (April 29, 2024) — Gas prices across the state held relatively steady over last week, moving only two cents more expensive on average. The Tennessee Gas Price average is now $3.26 which is 11 cents more expensive than one month ago and three cents more than one year ago.
"It was a relatively quiet week for pump prices across the state, with many parts of the state seeing little movement over last week," said Megan Cooper, spokeswoman for AAA - The Auto Club Group. "Barring any major changes in the market or crude oil pricing, it's likely that we could see gas prices hold steady again this week."
National Gas Prices
With domestic gasoline demand decidedly in the doldrums and the cost of oil retreating, the national average dipped two cents since last week to $3.65.
According to new data from the Energy Information Administration (EIA), gas demand fell from 8.66 to 8.42 million b/d last week. Meanwhile, total domestic gasoline stocks decreased by .6 million bbl to 226.7 million bbl. Lower demand and a drop in oil prices could push pump prices lower.
Today’s national average is $3.65, 12 cents more than a month ago and four cents more than a year ago.
National Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI decreased by 55 cents to settle at $82.81. Oil prices dipped despite the EIA reporting crude oil inventories fell by 6.4 million barrels from the previous week. At 454 million barrels, U.S. crude oil inventories are 4% below the five-year average for this time of year.
Drivers can find current gas prices along their route using the AAA TripTik Travel planner.
Tennessee Regional Prices
- Most expensive metro markets - Nashville ($3.32), Clarksville ($3.30), Jackson ($3.29)
- Least expensive metro markets - Kingsport ($3.16), Johnson City ($3.17), Morristown ($3.20)
Tennessee Gas Price Averages
(Price per gallon of regular unleaded gasoline)
 | Monday | Sunday | Week Ago | Month Ago | One Year Ago |
Tennessee | $3.263 | $3.254 | $3.241 | $3.159 | $3.239 |
Chattanooga | $3.249 | $3.233 | $3.149 | $3.085 | $3.105 |
Knoxville | $3.236 | $3.238 | $3.264 | $3.068 | $3.266 |
Memphis | $3.270 | $3.260 | $3.284 | $3.207 | $3.252 |
Nashville | $3.327 | $3.304 | $3.265 | $3.205 | $3.292 |
Click here to view current gasoline price averages | |||||
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